IHT on gift

sird

Hi, I've recently received 10k from my very generous Grandma. Before I spend any I was wondering if there would be any IHT on this if she died within 7 years. Her estate is under 325k including the money she has given me and she has already given away her 3k gifting allowance this year elsewhere. I've looked online but found conflicting advice so can anybody her give me a definite answer? TIA

Keep_pedalling

Gifts are not subject to IHT unless the gifted has given away more than their NRB so you have no worries there, and her estate is not subject to IHT either so no issue for the estate either. 

If she is a widow her estate will also have any of her husbands unused NRB available, and if she owns her home then there is a residential NRB that could be used if she won the lottery. 

Savvy_Sue

In addition, the IHT would be paid from her estate, not what she gave away before death. You can spend the lot now, and any future gifts.